EasyJet founder Stelios Haji-Ioannou has resigned from the board of Europe’s second- biggest discount airline in an attempt to force the carrier to curb its expansion and focus on returning profits to shareholders.

Stelios (43), who prefers to be known by his first name, is quitting as a non-executive director with immediate effect, EasyJet said in a statement.

Stelios has been at odds with EasyJet management since November 2008, when he refused to sign off on accounts and rebuked the board for buying aircraft and adding routes amid a slump in demand.

He still controls about 38 per cent of the stock. – (Bloomberg)